Matrix aims to grow Scottish business as it launches city base

MATRIX Group, the London-based broker, last night launched its new Edinburgh office that will spearhead the group's investment banking operation in Scotland.

The office will be led by Matrix's energy and power analyst, Adam Forsyth, along with equities salesman Nick Edwardson.

The Edinburgh office will initially target fund managers with road shows featuring investment opportunities. Next month, Matrix will present research on the oil and gas and leisure sectors.

Forsyth said there were "signs of life" emerging for companies raising funds through equity investors. Matrix last year secured 300m for its clients following roadshows for Highland Gold and Accsys Technologies, an environmental science and technology company.

He also confirmed the company would also look to bring Scottish companies to the listed markets although he said this would continue to be "difficult".

"You still have to be at the right stage. Maybe a few years ago we saw a few examples of companies who came the market too early.

"It is important we give the right advice and sometimes it is just not right to come to the market. But for the right companies the market is the right place to be," said Forsyth.

As a specialist in the energy sector, Forsyth said there were a number of smaller private Scottish firms in the renewable energy sector the firm was interested in working with.

Forsyth insisted equities remained a good bet for investors.

"There is still considerable uncertainty out there but there are glimmers of interest. We are a stock picking house and there are stocks which do look very attractive."

Matrix was founded by its chairman David Royds in 1987. It has a range of businesses including asset management, investment banking, property and specialised finance. The firm currently has 3.5bn of assets under management.